adminTHE government says it is looking for potential investors to take up part of its shareholding in the Zimbabwe Stock Exchange (ZSE).
The local bourse, previously a non-profit member owned organisation, was last year transformed into a private company with the government owning 32 percent of the exchange while stockbrokers control the remaining 68 percent shareholding.
Announcing the company’s new board yesterday, Finance and Economic Development Minister Patrick Chinamasa said the government was ready to reduce its shareholding.
“We’re prepared to shed off a portion to any strategic partner that you might want to invite into the stock exchange from the private sector,” said Chinamasa.
“I also want to encourage the pension’s funds, insurance companies and commercial banks to take up a stake in the company to help capitalise the stock exchange.”
The new board, which will be chaired by Carol Sandura, comprises Benson Gasura, Daniel Muchemwa, Xolani Moyo, Alban Chirume and Bartholomew Mswaka. — The Source
derick.khumalo